# Lee Mielke: Production estimate raised again | Capital Press

> USDA's November 9 WASDE raised its 2022 US milk production forecast by 100 million pounds to 227.0 billion pounds, while leaving 2023 production unchanged at 229.2 billion. The dairy cow inventory was lowered for both years. Class III and Class IV price forecasts for 2022 and 2023 were mostly reduced, while the 2023 butter forecast rose.

- Date: 2022-11-15 · published 2022-11-15T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/38704-lee-mielke-production-estimate-raised-again-capital-press
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A higher production estimate combined with lower Class III and IV forecasts points to softer milk prices, reducing dairy producers' margins and their feed purchasing power.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2020-12-15 | [Mielke: Production estimate rises again \| Capital Press](https://feedsoft.ai/events/49651-mielke-production-estimate-rises-again-capital-press.md) | -0.9% | +3.0% |
| MILK | 2021-08-17 | [Lee Mielke: Milk production estimates lowered \| Capital Press](https://feedsoft.ai/events/45573-lee-mielke-milk-production-estimates-lowered-capital-press.md) | -0.7% | +2.7% |
| MILK | 2023-01-17 | [Lee Mielke: Milk estimates lowered \| Capital Press](https://feedsoft.ai/events/37784-lee-mielke-milk-estimates-lowered-capital-press.md) | +0.1% | -7.8% |
| MILK | 2021-06-16 | [Mielke: Milk Production Estimates Raised Again - EDairy News English](https://feedsoft.ai/events/46578-mielke-milk-production-estimates-raised-again-edairy-news-english.md) | +0.5% | -2.7% |
| MILK | 2021-05-20 | [Mielke: 2021 Milk Production Estimates Raised - EDairy News English](https://feedsoft.ai/events/47111-mielke-2021-milk-production-estimates-raised-edairy-news-english.md) | 0.0% | -8.7% |

## Sources

- capitalpress.com: https://capitalpress.com/2022/11/15/lee-mielke-production-estimate-raised-again/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.